Industry News

The Orange and the Elf

Written by Tamir Bresler

Jeff Sessions resigns, opens door for federal cannabis legalization to advance.

Last week, cannabis legalization advocates raised a joint in celebration nation-wide when intolerable United States Attorney General Jeff Sessions announced his resignation, arguably in disgrace, at the request of President Trump. Not surprisingly, cannabis stocks spiked after his resignation was announced, as the pro-cannabinoid lobby let out a collective cheer. But whether or not his resignation will ultimately end up being a good thing for the cannabis legalization initiative remainsuncertain.

“Jeff Sessions’ Replacement Could Show [Cannabis] Stocks the Grass Isn’t Always Greener on the Other Side”

– Keith Speights, The Motley Fool

Session’s was ousted from office allegedly due to his handling of the Mueller investigation, the Department of Justice’s probe into alleged Russian interference in the 2016 Presidential campaign headed by Special Prosecutor Robert Mueller. President Trump has long been infamously furious over this investigation, and has vociferously opposed it from its inception. When Sessions, who in his capacity as Attorney General oversees the Federal Bureau of Investigations,recused himself from participation in the probe, their relationship became noticeably strained, and has not recovered since.

President Trump is now seeking to nominate a loyal friend and critic of the Mueller investigation to fill Session’s vacancy. However, will this replacement actually be a supporter of the growing tide of cannabis legalization that is sweeping the nation? Business executives nationwide were asked about what Session’s exit likely means for the budding national cannabis industry.

“Although we wish Mr. Sessions well, he was woefully out of step with the American people with regard to the myriad health and wellness benefits of cannabis,” said Charlie Finnie, Chief Strategy Officer of MariMed Inc.

Referring to an Op-Ed piece by John Boehner published last week, in which he urged Congress to give cannabis a chance, Finnie is quoted as saying, “When the Republican ex-speaker of the House… writes an Op-Ed piece entitled ‘Cannabis Should be Legalized,’ that tells you all you need to know.”

Only time will the full effects of Jeff Session’s resignation and replacement. But if nothing else, this gives the cannabis industry an opportunity to have a newer, fresh face in the mix, and hopefully, one that does not have a stated hatred (and utter misunderstanding) of the industry we advocate for and are a part of.

About the author

Tamir Bresler